Ann: Kangankunde Rare Earths Project Update, page-5

I believe that most mining stocks are like this. First of all, the industry cycle is very important. we must choose the right industry. China restricts the export of rare earths. There is no problem for us to invest in the rare earth industry. For example, if you choose to invest in lithium stock at this stage, you will have big headache. No matter how good the project is, it will be useless. For example, PLS, WR1, SYA, etc.

The second consideration is the timing. Of course, we must enter this stock at the right time. Most people will choose the exploration period and the feasibility study report period. The stock will have larger upside potential during these stages. We have went thru the difficult orphan period. Next stage we will have a bunch of big news, such as feasibility study ( I asssume the report will be very bullish), plant construction, offtake agreements, etc. These announcements should usually make the company's market value reach more than $1 billion, but considering that our project is in Malawi, we give a 50% discount? That's also more than $500mil.